Geode Capital Management LLC Acquires 322 Shares of Hovnanian Enterprises, Inc. (NYSE:HOV)

Geode Capital Management LLC increased its holdings in shares of Hovnanian Enterprises, Inc. (NYSE:HOV) by 0.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 111,942 shares of the construction company’s stock after acquiring an additional 322 shares during the quarter. Geode Capital Management LLC owned about 1.85% of Hovnanian Enterprises worth $22,882,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of HOV. Bank of New York Mellon Corp increased its position in Hovnanian Enterprises by 2.9% during the second quarter. Bank of New York Mellon Corp now owns 35,054 shares of the construction company’s stock worth $4,975,000 after acquiring an additional 993 shares during the period. Innealta Capital LLC bought a new position in Hovnanian Enterprises in the 2nd quarter valued at about $37,000. Principal Financial Group Inc. increased its holdings in Hovnanian Enterprises by 11.0% in the 2nd quarter. Principal Financial Group Inc. now owns 3,298 shares of the construction company’s stock valued at $468,000 after buying an additional 327 shares during the period. International Assets Investment Management LLC bought a new position in Hovnanian Enterprises in the 2nd quarter valued at about $156,000. Finally, Rhumbline Advisers increased its holdings in Hovnanian Enterprises by 3.8% in the 2nd quarter. Rhumbline Advisers now owns 9,033 shares of the construction company’s stock valued at $1,282,000 after buying an additional 330 shares during the period. 65.40% of the stock is owned by institutional investors.

Hovnanian Enterprises Trading Down 0.9 %

Shares of Hovnanian Enterprises stock opened at $133.27 on Friday. The firm has a market capitalization of $806.95 million, a PE ratio of 4.15 and a beta of 2.62. The company has a current ratio of 1.45, a quick ratio of 0.27 and a debt-to-equity ratio of 0.20. The firm’s 50 day moving average is $170.06 and its 200 day moving average is $180.24. Hovnanian Enterprises, Inc. has a 1 year low of $125.63 and a 1 year high of $240.34.

Insider Activity at Hovnanian Enterprises

In related news, Director Edward A. Kangas sold 1,500 shares of Hovnanian Enterprises stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $188.86, for a total transaction of $283,290.00. Following the sale, the director now directly owns 13,290 shares in the company, valued at $2,509,949.40. This trade represents a 10.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ara K. Hovnanian sold 644 shares of Hovnanian Enterprises stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $194.99, for a total transaction of $125,573.56. Following the sale, the chief executive officer now owns 45,635 shares in the company, valued at approximately $8,898,368.65. This represents a 1.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,144 shares of company stock valued at $1,012,194. 17.67% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, Wedbush reissued a “neutral” rating and issued a $155.00 target price on shares of Hovnanian Enterprises in a report on Monday, December 16th.

About Hovnanian Enterprises

Hovnanian Enterprises, Inc, through its subsidiaries, designs, constructs, markets, and sells residential homes in the United States. It offers single-family detached homes, attached townhomes and condominiums, urban infill, and active lifestyle homes with amenities, such as clubhouses, swimming pools, tennis courts, tot lots, and open areas.